Fiduciary Alliance LLC Purchases Shares of 999 Waste Management, Inc. (NYSE:WM)

Fiduciary Alliance LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 999 shares of the business services provider’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Waste Management by 301.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,929 shares of the business services provider’s stock worth $1,971,000 after acquiring an additional 9,709 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Waste Management during the third quarter valued at approximately $530,000. Eventide Asset Management LLC acquired a new stake in shares of Waste Management in the third quarter valued at approximately $484,000. First Business Financial Services Inc. lifted its holdings in Waste Management by 4.7% during the 3rd quarter. First Business Financial Services Inc. now owns 1,565 shares of the business services provider’s stock worth $239,000 after buying an additional 70 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Waste Management by 41.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 600 shares of the business services provider’s stock valued at $91,000 after buying an additional 177 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Shares of WM opened at $213.34 on Monday. The company has a market cap of $85.57 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.48 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The company’s fifty day simple moving average is $208.06 and its 200 day simple moving average is $200.00. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.41%. Waste Management’s dividend payout ratio is 49.10%.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on WM. Jefferies Financial Group raised their price target on Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a report on Monday, March 18th. Oppenheimer lifted their target price on shares of Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Raymond James upped their price objective on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Truist Financial lifted their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Morgan Stanley increased their target price on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.61.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.